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Old 8th August 2011, 12:20   #676
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Default Re: The Property / Real Estate Thread

Its amazing as to how many projects one hears in the FM channel when you are online. Crazy as to how many apartments are coming up, am sure many will struggle to sell
BTW when an apartment is 80% or more complete, builders hardly negotiate as expected. But paying lower at the beginning also means you pay interest for longer and might end up paying the same?
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Old 8th August 2011, 17:04   #677
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Default Re: The Property / Real Estate Thread

Hi ! I really need advise.

Im looking for 2BHK, 50-55 lakh budget, max 15km to MG Road. I work close to Richmond road. Looking for apartments except in East.

Im have visited Chartered Beverly Hills located abt 1 km from Uttaralli (Off Padmanaba nagar) . Will it be tough to give it out on rent since its not located close to any of the IT parks? How is this area? What are your opinions?

If not, kindly let me know of any on going/ upcoming projects?

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Old 9th August 2011, 22:00   #678
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Default Re: The Property / Real Estate Thread

I checked the HM World city project today.

The pros that i find is:-

1) Price seems to be ok but not reasonable . But still it is a small premium for the flats. Negotiation has to be done.

2)The quality of construction is reasonably good.Not extremely bad like Elita Promenade.

3)Staff were courteous. This is obvious because i am a prospective buyer and not a buyer.

4) Undivided share of land is very very less. I saw a flat in the ivory block which is completed long back. The super built up are is 2028 sqft for which the UDS is only 400 sqft.

Cons:-

1) Out of the city.

2) No establishments/shops or departmental stores and malls. Buying thing to home seems to be a tuff task.

3)The salesman gives a lot all stories about three/four towers which is going to come up in the future .. ie.., 5 years. He also says that a commercial complex is also going to come up within the premises.

4)I see a lot of complaints when i searched about the property over google. All the complaints are about handling over the property and uninformed cancellation of allotted flats in the case of early birds who got them in the pre- launch offer.
One thing that i learnt that they never keep up their promise. And getting a flat in the promised handover period is an impossible task.

The people who have expressed comments have pleaded the prospective buyers not to buy. Also some of the comments appreciating the builders and project is been posted by the Marketing people of HM group which is very evident. The discussion has turned to be a comedy play and clash between people in that blog. Just read if possible.

Last edited by rki2007 : 9th August 2011 at 22:06.
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Old 9th August 2011, 22:45   #679
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Default Re: The Property / Real Estate Thread

Also saw another project by name Wama Ibanee on off Sarjapura road in Kasavanahalli

There is availability of two nos of 2 bhks and one 3bhk. The project is completed 2-3 years back if i am not wrong.

Location- It is bad. The entrance is very small and many times there are chances to miss out for new comers.On one side of the road (ie.., back side) the balcony of bedrooms have a great view with the garbage area filled with gutters and the residents of that gutters are a group of pigs. Right side of the project is empty land.And the other sides have very small medium class houses.

Construction quality- It is very very Bad. I observed several water leakages in various places inside the flat.

Elevation and common area-- The elevation is just like a lodge. All the doors of the flats are arranged in such a way that it makes me remember some lodge/hostel.

Surroundings:- The place is well connected to many establishments and departmental stores and malls on Sarjapura road. I don't think there will be any problem in buying things for home.

Pricing- It is exorbitant. the 3bhk costs 78+ regn for a 1904 sqft apartment.

Last edited by rki2007 : 9th August 2011 at 22:46.
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Old 9th August 2011, 23:10   #680
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Default Re: The Property / Real Estate Thread

Quote:
rki2007 : 4)I see a lot of complaints when i searched about the property over google. All the complaints are about handling over the property and uninformed cancellation of allotted flats in the case of early birds who got them in the pre- launch offer.
This point has come up earlier, and one of our fellow members (was it Benny ?) pointed out that opinions are more often posted by un-happy / upset members. How many happy customers come back to post a positive review ?

Quote:
rki2007 : One thing that i learnt that they never keep up their promise. And getting a flat in the promised handover period is an impossible task.
Same with almost any builder.
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Old 10th August 2011, 05:54   #681
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Default Re: The Property / Real Estate Thread

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Originally Posted by rki2007 View Post
I checked the HM World city project today.

The pros that i find is:-

1) Price seems to be ok but not reasonable . But still it is a small premium for the flats. Negotiation has to be done.

2)The quality of construction is reasonably good.Not extremely bad like Elita Promenade.

3)Staff were courteous. This is obvious because i am a prospective buyer and not a buyer.
I went through the same phase when i was considering HM Symphony from the HM Group. I finally bought my apartment from them.

About the construction quality, i do not have major complaints, but there are some cases of hollow tiles in my hall. Looks like the layering below was not done well. However, the same is not found in the bedrooms. Looks like inconsistency when laying the tiles.

Otherwise, HM Group is slow to respond to complaints. They take their own sweet time. I am unsure how other builders are in this regard, though. Some action does take place, but you have to make yourself heard.
I was also quite apprehensive reading through a lot of complaints about the project on the internet, but these were from people who had booked early. I bought my apartment towards the end of the last recession phase, and almost ready-to-move-in. One year down the line, no major complaints as such.

Hope that helps.

@Parwath : Yes indeed, those were my golden words.
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Old 10th August 2011, 06:52   #682
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Default Re: The Property / Real Estate Thread

As far as HM World city is concerned some say that the delay was because of grant of here permission by the local authorities. Also there is another opinion that HM was greedy to sell at the flats at higher rates instead of selling to the early bird offer purchasers.

I think transacting with these people once the flat is ready to move in will not be a problem.
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Old 10th August 2011, 09:04   #683
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Default Additional Parking ?

Guys, Is it worth going in for a second parking slot at the time of purchase of the flat ? (assuming you have two cars)

what is the view / rules on additional parking slots ?

If I buy a second parking slot along with the apartment, but I later want to sell it - is it possible ? What is the normal process ?

Alternatively, if I want to buy a second parking slot from another person (re-sale), what is the process.
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Old 10th August 2011, 09:53   #684
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Default Re: Additional Parking ?

Quote:
Originally Posted by condor View Post
Guys, Is it worth going in for a second parking slot at the time of purchase of the flat ? (assuming you have two cars)

what is the view / rules on additional parking slots ?

If I buy a second parking slot along with the apartment, but I later want to sell it - is it possible ? What is the normal process ?

Alternatively, if I want to buy a second parking slot from another person (re-sale), what is the process.
Condor, if budget permits I think you should go and buy a second parking lot. This is a must if its a small apartment with limited parking space. In my earlier apartment complex of 100 apartments, most of the guys had 1 parking lot but after few years some guys bought second car and then the problem started. Later people with 2nd car were asked to park outside.

In my new place, I paid additional 2 lakhs and got a second parking lot. As currently I have 1 car second parking lot was lying vacant for a while, but its been rented out for 1.5k per month. Also resale value for a parking lot has gone to 2.6 lakhs.
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Old 10th August 2011, 09:54   #685
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Default Re: The Property / Real Estate Thread

Get an extra one while doing the purchase. The costs might vary depending upon the location - yes the builders have found another way to milk this.

And yes it is possible to sell it later. Process vary for every builder. But the generic rule is you can buy it as per the conditions mentioned - considering availability too. Size and location as I mentioned earlier.

For buying for another person. There is mostly a waiting list that is managed by the society. This may again vary. If you can get us the rules in the complex you are looking at we can advise better.
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Old 10th August 2011, 13:03   #686
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Default Re: Additional Parking ?

Quote:
Originally Posted by condor View Post
Guys, Is it worth going in for a second parking slot at the time of purchase of the flat ? (assuming you have two cars)

what is the view / rules on additional parking slots ?

If I buy a second parking slot along with the apartment, but I later want to sell it - is it possible ? What is the normal process ?

Alternatively, if I want to buy a second parking slot from another person (re-sale), what is the process.
It is preferable to get an additional car park at the time of buying the flat itself. Also a very important thing is that there should be a mention about two car parks in the sale deed. Just getting an approval letter is sometimes risky because if the apartment goes into the hands of association later say after about 2-3 years, this may turn out to be a problem. Because of mentioning the additional car park, the guidance value will increase and you may have to pay more stamp duty.

Getting both the car parks side by side is important and also to be marked.
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Old 10th August 2011, 16:22   #687
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Default Re: The Property / Real Estate Thread

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Originally Posted by rki2007 View Post
I happened to see the the Elite Promenade at JP Nagar 7th phase yesterday. The B towers 5 , 13th floor onward is available. The price bracket is at 71L + Regn for the 1620 sqft.

The impression that i had was:-

There were lot of cons instead of pros


For Hennur i think paying around 55-60 is worth but it again depends on the location. After crossing the Jain heights apartments and taking a left and almost to the end of the road you reach HBR layout where i saw an apartment constructed by SLV called SLV Grand. The 3 BHK Flat of 1570 Sqft was 50L NEGO.

Also just opp to the Dominos there is one project coming up and the price range is 65-70L

Please explain what are the amenities in the JP Nagar 9th phase and Hennur flats.
Bang on with Elita Promenade. I saw a very detailed review on the net some time back. Will post it if i find it. The guy had literally dissected the flat point by point and showed why it was not good. I personally, did not find it impressive either. Quality is definitely inferior. Overall, you can give it a skip.
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Old 10th August 2011, 16:32   #688
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Originally Posted by Captain Slow View Post
55-60L in Hennur road? Which builder ? I saw a couple of Sobha ones and they wanted minimum 80-90L

I also saw HM's tropical tree in RT nagar, Asking price is 1.5Cr
Sobha Chrysanthemum has flats for 72-75 Lakhs excl registration. Be prepared to bargain. But a shocking thing I found from their yahoo groups, is that Bwssb water connection in Sobha Chrysanthemum will be available only in 2015. My take is that for Hennur/ Thanisandara, Horamavu areas, the scene would not be any better. Corporation Water is definitely an issue, at least for the next 4-5 years.

HM's tropical tree is indeed a shocker. Checkout Siroya Environ in Anand Nagar, quoting upwards of 85L, and I've not heard of them earlier.
I wonder when will the prices come down. Its been so high, and not really good quality construction at all. But of all the builders I have seen, Sobha seems to have slightly higher edge in terms of Quality. Mantri and Prestige would be in the same league. Brigade would come third and Purva 4th.
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Old 11th August 2011, 16:54   #689
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Default Re: The Property / Real Estate Thread

Guys,

I am looking for a 2 BHK around electronic City, Bangalore for rent within 10 K max pm. Please help me out.The max time to travel to ecity should be 30 mins.
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Old 11th August 2011, 19:19   #690
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These are the price sheets of the Siroya Environ near Hebbal flyover.

Just check the prices.After seeing the construction cost, i was about to faint off


1 UNIT NO 3 BHK / 2 BHK
2 SUPER BUILT AREA IN SQFT 1884 / 1408
3 RATE PER SQ FT SBA 4,500 / 4,500
4 LAND COST 13,45,714 / 10,05,714
5 CONSTRUCTION COST 71,32,286 / 53,30,286
5 CAR PARKING 2,50,000 / 2,50,000
6 OTHER CHARGES 3,69,114 / 2,79,014
7 MAINTENANCE DEPOSIT @ RS 25 47,100 / 35,200
8 CLUB MEMBERSHIP 75,000 / 75,000
9 BESCOM 1,00,000 / 1,00,000
10 LEGAL CHARGES 15,000 / 15,000
11 BWSSB 1,00,000 / 1,00,000
TOTAL Rs. 94,34,214 / 71,90,214




If you work out the price of construction cost , it is Rs.3785/- per sqft. Is this day light robbery. Overall cost per sqft is Rs.5000/- Seems to be a joke or what.

Last edited by rki2007 : 11th August 2011 at 19:30.
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